President Barack Obama has been firmly in the spotlight of late. On a recent trip to the Asia-Pacific, President Obama described the ‘defining and indispensable’ relationship that lay ahead between the US and India, highlighting the strength of interest held in this fast emerging part of the world.
That interest has been mirrored by the industrial gas business for many years, not least in recent weeks with the news that Linde AG has acquired a majority stake in Sri Lanka’s Ceylon Oxygen Limited.
The offer tabled by Linde, which was accepted by majority shareholder Europium Limited for its 95.4% stake, closed on 12th November – after which Linde intended to acquire the outstanding minority shares – under Sri Lankan legislation – from those shareholders who have not accepted.
The move for Ceylon Oxygen represents a significant strategic deal for the group, with Asia cited as a ‘key growth market’ by the company’s Regional Business Unit Head, Sanjiv Lamba.
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